October 23Rd International Financial Media Headlines

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MarketWatch: AIA IPO is priced at HK $19.68 per share.

AIG said on Friday that the initial price of its initial public offering (IPO), the Asian life insurance department (AIA) in Hongkong, has been set at HK $19.68 per share (about $2.53 per share), located at the high end of the price range.

According to this calculation, the financing scale of AIA's IPO will reach at least HK $138 billion 329 million (US $17 billion 800 million), which will exceed the financing scale of HK $16 billion 100 million of ICBC H shares and become the largest IPO ever recorded in Hongkong.

This will also greatly promote the restructuring of the life insurance sector.

AIA has issued 7 billion 30 million new shares in Hongkong IPO.

The proceeds of the financing will mainly be used to repay AIG's emergency assistance loan from the US government in the deepest financial crisis of 2008.

By the end of June this year, AIG owed us $100 billion of loans from the US government.

But since then, the company has repaid these loans in multiple steps, while AIA's IPO is regarded as the most important step.

AIG also obtained $15 billion 500 million in cash and stock by selling its us life insurance business Alico to the metropolis life-insurance company (MET). By selling its two Japanese life insurance units, AIG Edison and AIG Star, it received more than 4 billion dollars in cash for Baode letter (Prudential Financial).

Bloomberg: U.S. unemployment rate slipped in 23 states in September

The US Labor Department reported on Friday that the unemployment rate of 23 states in the United States declined in September, of which Massachusetts dropped 0.4 percentage points, while Alabama, Maine and Rhode Island all fell 0.3 percentage points.

The report also showed that the unemployment rate in 11 states rose, with the highest rate in West Virginia, and the unemployment rate increased by 0.4 percentage points.

In September, the unemployment rate in Nevada was fourteen point four percent, still the highest unemployment rate in the United States.

Followed by Michigan and California respectively, the unemployment rate was 13% and 12.4% respectively.

The North Dakota unemployment rate remains at the lowest level in the country, three point seven percent.

Wall Street Journal: GM expects growth in China's auto sales

General Motors executives said on Friday that the sales demand of China's domestic auto market may exceed 17 million this year, and that by next year it will exceed 19 million. The number of Western auto brands in China will exceed their sales in the local market.

Dieter Zeson, Dieter Zetsche, also said on Friday that he expects Chinese consumers to become the biggest buyers of Mercedes Benz in the next three to five years.

Volkswagen's Audi Department expects that Volkswagen's sales in China will exceed Germany's domestic market next year.

Reuters: France's Senate approves new pension reform bill

In a final vote Friday, the French Senate approved a widely criticized pension reform bill.

The bill has triggered a series of nationwide strikes and demonstrations.

The French Senate passed the bill with 177 votes in favour and 153 votes against it, which officially raised the retirement age in France.

The French government adopted a special proposal to speed up the voting process for this reform bill.

India times: India bank's two quarter profit increased by 91%

The Bank of India released its second financial quarter results on Friday, saying its net profit rose to 6 billion 170 million rupees ($139 million 500 thousand) in the quarter, much higher than the 3 billion 230 million rupees earned in the same period last year, an increase of 91% over the same period last year. (of)

The India state bank did not immediately disclose the specific reasons for the sharp rise in net profit from July to September.